Here's Why Nu Holdings Fell 60% in the First Half of 2022
Shares of the Brazilian digital bank Nu Holdings (NYSE: NU) tumbled roughly 60% in the first six months of 2022, according to data frerom S&P Global Market Intelligence.
The consumer-facing bank took a hit as interest rates across most of the world increased and investors grew increasingly concerned about the economy.
Nu Holdings, which is backed by Berkshire Hathaway, went public at the end of December at a tough time for fintech stocks. Investors were starting to realize that inflation might be alarmingly high and that the Federal Reserve may not have a handle on it as suggested at the time.
Source Fool.com
